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It's a shame FHFA is aware of Fann'e bad culture but seldom does anything to fix it. Biggest component of bad culture is people (VPs, Directors, Managers) and cronies (leads, product owners/scrum masters) under them who make big money but do nothing. They just kiss up and slave drive associates. Fannie illeterate leadershop misuses agile/scrum's for production support, ops work adhocs, etc. FHFA/Fannie Sr Exec need to look at monthly/quarterly survey results, comments closely and get rid of all those worthless ring leaders and clowns under them immediately.
If Fannie Mae really wanted to save money they should break up some of the Management Cabals that are located throughout the company. Some departments are overloaded with management and directors who make over 200K a year and do nothing except plot to keep their management rings intact. FHFA should really look at an Fannie's Org chart sometime and see the excessive management/supervisory positions that run rampant across the organization.
New organization structure revamping whole Fannie is expected by end of the year. SF-Ops, OSS are in bad shape. Its good ole boys clubs all over doing disservice to American tax payers. Hope Fannie Execs wake up soon, show the door to those vp's/directors/managers with no skills, simply collecting big fat paychecks every two weeks.
It will be interesting to see what happens with talent architecture in the coming months and if they will become a leaner organization...There are literally people in some departments that for years don't do anything on a daily basis and departments that are loaded with managers, supervisors and directors. This place is much more like a country club for managers and above than a place of business which they should be thanking the American taxpayer for.
Same sad story in the SF-OSS. Fannie Execs need to pay attention to the failures of vp, directors and managers and their true incompetence to finally cut them. It will be a disaster if any of them get promoted to higher levels. We need a new mindset dynamic leadership with strong work ethic, managers who are change agents and not just collecting a big paycheck for nothing.
Working at Fannie Mae is becoming soul crushing. ERM is a disaster. CROs and Directors are elevated that have no clue; associates do all the work and are never appreciated for efforts. Hugh preaches We Are One Fannie Mae, however he fails to adhere to it. It’s time to remove CROs that are ineffective and have lost the trust of their employees.
Looks like this Quarter is over and I didn't hear any thing. Are we safe now, or are we expecting any thing this Friday too.
Like Freddy Fannie should consider VEP's. I think culture is so bad, many seniors will take the package and go.
They should offer voluntary exit packages, I know a lot of people who would take them. They used to offer the early retirement every 2 years or so but haven't done it in the past 3 years.
Heard about 5 percent cuts coming soon. Is it all groups within SF or specific ones?